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Indian cotton arrivals dipping, says ICA

17 Jun '13
7 min read

TAMILNADU:

Seed companies have reported an increase of 20% in sales of cotton seeds as many Farmers near Tirunelveli, Trichy due to lack of water, have shifted to cotton. So it is a good sign for Mills in Tamilnadu as Farmers are slowly shifting to cotton due to natural cirumstances as more cotton will be available to them locally and they can save in transportation costs.

If Farmers get good kappas prices like in the last two seasons, then they may consisently sow cotton in Tamilnadu. Seed cotton arrivals are on in rice fallow districts of Thanjavur/Thiruvarur and Nagapattinam. Arrivals also on in Perambalur, Attur and Konganapuram. Boothappadi, Andhiyur and Moolanur will start by month end. Insufficient rain in cotton tracts delays the sowing. Ruling kappas prices are fair. Mills demand for cotton continued as power supply situation is improving.

INTERNATIONAL:

The New York futures market after dropping to 81.5 cents per lbs seems to be bouncing back to around 86 cents. Approximately 18 lakh bales have been reported by trade sources to be booked for imports by Indian Textile Mills.

Only a part of the shipments have arrived and the remaining quantity may become unviable for the Indian Mills to import due to the drastic fall in the rupee against the dollar. ICAC has projected a fall in area and cotton production at the Global level.

China also continued to release its cotton stock. In China also Cotton sowing area may dwindle and planting is almost over. U.S acreage is also down by 30% in a decade. India may overtake Chinese position in cotton. Bangladesh also plans for buffer stock in cotton to meet the steady demand. In Pakistan arrivals have begun. The basic fundamentals are strong enough to sustain Global area.

Indian Cotton Federation

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